Singapore manufacturers expect grim six months ahead

MANUFACTURERS continue to see bad business in the next six months, a survey by the Economic Development Board showed.

The EDB Business Expectations survey of the manufacturing sector showed that only 8 per cent of manufacturers expect business to pick up.

But 18 per cent were expecting a sour outlook, weighed down by continued weakness in the global economy.

Electronics firms firms were the most pessimisstic, among the different sectors that EDB had surveyed.

In particular, not a single consumer electronics firms expect business to improve. In fact 46 per cent believe the business will get worse.

Likewise, 64 per cent of petroleum firms said they expect business outlook to be negative in the next six months.